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What are Departmental Accountable Officials pecuniary liability responsibilities?
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What is true about departmental acountable officials with regards to pecuniary liability?
They bear no presumption of negligence and are only liable for the dollar value of the erroneous payment that is attributable to their actions.
What is product liability?
"Product liability is a specific type of law. What it says is that basically, a product's maker or supplier has to be held accountable for any injuries that the specific product may cause."
What does Pecuniary liability mean?
It is the personal financial responsibility of accounting officials who approve expenses, making them responsible for verifying the accuracy of their account payments.If you are an official, it means that you have financial responsibility for erroneous payments made as a result of your signature.As an accountable official, you are presumed to be negligent when a fiscal irregularity occurs
Is Creditors an asset or liability?
Current Liability
How is a liability increased by a credit or debit?
Liability has credit balance as normal balance so credit increases the liability which means addition to current liability will increase the overall liability and reduction in liability will reduce overall liability.
The following statements is TRUE about Departmental Accountable Officials with regards to pecuniary liability?
They Provide information to certifying officers
What is the purpose of pecuniary liability?
To provide an incentive to guard against errors and theft by others. To protect the government against errors and dishonesty by Departmental Accountable Officials and Certifying Officers.
What statement is true about a departmental accountable official?
They have automatic pecuniary liability for erroneous payments.
What is true about departmental accountable officials with regard to pecuniary liability?
They bear no presumption of negligence and are only liable for the dollar value of the erroneous payment that is attributable to their actions.
Is NOT a means of clearing a Departmental Accountable Official's pecuniary liability?
NOT is not a means of clearing a Departmental Accountable Official's pecuniary liability. The accountable official remains responsible for any financial discrepancies or liabilities even if the NOT is processed. NOT is a Notice of Transfer indicating a change in funds, but it does not absolve the official from financial responsibility.
What is true about a Departmental Accountable Official?
They have automatic pecuniary liability for erroneous payments.
What does federal law say about departmental accountable odfficials?
DoD may use them; if they are used, they only have limited pecuniary liability.
What does federal law say about departmental accountable official?
DoD may use them; if they are used, they only have limited pecuniary liability.
NOT a means of clearing a Certifying Officer's pecuniary liability?
Transfering to another department is not a means of clearing departmental accountable officers for official pecuniary liability.
What is true about departmental acountable officials with regards to pecuniary liability?
They bear no presumption of negligence and are only liable for the dollar value of the erroneous payment that is attributable to their actions.
What meaning of accountability?
The state of being accountable; liability to be called on to render an account; accountableness.
What is the advanced meaning of accountability?
The state of being accountable; liability to be called on to render an account; accountableness.
